Cowen reaffirmed their outperform rating on shares of Aerie Pharmaceuticals (NASDAQ:AERI) in a research report report published on Thursday morning, The Fly reports. The brokerage currently has a $50.00 price objective on the stock, down from their previous price objective of $105.00.
A number of other research analysts have also weighed in on the company. HC Wainwright dropped their target price on Aerie Pharmaceuticals from $55.00 to $41.00 and set a buy rating on the stock in a report on Thursday. ValuEngine lowered Aerie Pharmaceuticals from a buy rating to a hold rating in a report on Monday, November 4th. JMP Securities dropped their target price on Aerie Pharmaceuticals from $58.00 to $52.00 and set a market outperform rating on the stock in a report on Thursday, August 8th. Piper Jaffray Companies restated a buy rating on shares of Aerie Pharmaceuticals in a report on Tuesday, October 15th. Finally, Citigroup restated an outperform rating and issued a $45.00 target price (down previously from $65.00) on shares of Aerie Pharmaceuticals in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $44.92.
Shares of AERI stock traded up $0.75 on Thursday, hitting $19.23. The company had a trading volume of 2,084,600 shares, compared to its average volume of 892,659. Aerie Pharmaceuticals has a twelve month low of $17.51 and a twelve month high of $50.10. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.35 and a current ratio of 2.52. The stock’s 50-day moving average is $21.03 and its two-hundred day moving average is $27.38. The firm has a market cap of $1.09 billion, a P/E ratio of -4.14 and a beta of 0.51.
In other Aerie Pharmaceuticals news, CEO Vicente Anido, Jr. purchased 26,250 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average cost of $19.01 per share, with a total value of $499,012.50. Following the completion of the transaction, the chief executive officer now owns 195,631 shares of the company’s stock, valued at approximately $3,718,945.31. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Foresite Capital Fund Ii, L.P. bought 46,153 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $23.45 per share, with a total value of $1,082,287.85. The disclosure for this purchase can be found here. Insiders have purchased 562,698 shares of company stock valued at $13,088,866 over the last ninety days. 8.71% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in AERI. Tower Research Capital LLC TRC increased its position in Aerie Pharmaceuticals by 2,330.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,458 shares of the company’s stock worth $43,000 after buying an additional 1,398 shares during the last quarter. Endurance Wealth Management Inc. increased its position in Aerie Pharmaceuticals by 173.7% in the third quarter. Endurance Wealth Management Inc. now owns 2,600 shares of the company’s stock worth $50,000 after buying an additional 1,650 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Aerie Pharmaceuticals in the second quarter worth $115,000. Bank of Montreal Can increased its position in Aerie Pharmaceuticals by 497.8% in the second quarter. Bank of Montreal Can now owns 4,023 shares of the company’s stock worth $119,000 after buying an additional 3,350 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new stake in Aerie Pharmaceuticals in the second quarter worth $134,000.
Aerie Pharmaceuticals Company Profile
Aerie Pharmaceuticals, Inc, an ophthalmic pharmaceutical company, focuses on the discovery, development, and commercialization of first-in-class therapies for the treatment of glaucoma, retinal diseases, and other eye diseases. Its lead product is Rhopressa, a once-daily eye drop to reduce elevated intraocular pressure (IOP) in patients with glaucoma or ocular hypertension.
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